Monte Rosa Therapeutics’ (GLUE) “Outperform” Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of Monte Rosa Therapeutics (NASDAQ:GLUE) in a report published on Thursday morning, Marketbeat Ratings reports. Wedbush currently has a $17.00 target price on the stock, up from their previous target price of $15.00.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company downgraded shares of Monte Rosa Therapeutics from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $14.00 to $11.00 in a report on Thursday, December 19th. Lifesci Capital assumed coverage on shares of Monte Rosa Therapeutics in a research note on Wednesday, March 12th. They issued an “outperform” rating and a $19.00 target price for the company.

Monte Rosa Therapeutics Trading Down 17.8 %

GLUE stock opened at $5.80 on Thursday. The firm has a market cap of $356.33 million, a P/E ratio of -3.17 and a beta of 1.50. Monte Rosa Therapeutics has a 1-year low of $3.21 and a 1-year high of $12.40. The business’s 50 day moving average is $6.18 and its 200-day moving average is $6.77.

Monte Rosa Therapeutics (NASDAQ:GLUE) last announced its quarterly earnings results on Thursday, March 20th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.60. The company had revenue of $14.00 million during the quarter, compared to the consensus estimate of $43.73 million. Sell-side analysts forecast that Monte Rosa Therapeutics will post -1.49 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GLUE. Intech Investment Management LLC bought a new position in shares of Monte Rosa Therapeutics in the third quarter worth about $77,000. Charles Schwab Investment Management Inc. lifted its holdings in Monte Rosa Therapeutics by 11.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 346,498 shares of the company’s stock worth $1,836,000 after buying an additional 34,698 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Monte Rosa Therapeutics by 14.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 117,877 shares of the company’s stock worth $625,000 after buying an additional 15,168 shares in the last quarter. MetLife Investment Management LLC bought a new position in Monte Rosa Therapeutics in the 3rd quarter valued at $132,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Monte Rosa Therapeutics by 54.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,100 shares of the company’s stock valued at $128,000 after buying an additional 8,500 shares during the period. Institutional investors and hedge funds own 79.96% of the company’s stock.

Monte Rosa Therapeutics Company Profile

Monte Rosa Therapeutics, Inc, a clinical-stage biotechnology company, engages in the development of novel small molecule precision medicines that employ the body's natural mechanisms to selectively degrade therapeutically relevant proteins. The company develops MRT-2359, an orally bioavailable molecular glue degrader targeting the translation termination factor protein GSPT1 for the treatment of MYC-driven tumors; MRT-6160 for the treatment of systemic and central nervous system autoimmune diseases; and MRT-8102 for the treatment of IL-1?/NLRP3 driven inflammatory diseases.